Titled chilliZ, the esports/blockchain venture has already secured $27 million through an early private placement, Dreyfus announced Wednesday.

The inspiration for the platform came from traditional sports, specifically football’s La Liga, with their democratic ‘socios’ system of club management, he explained.

ChiliZ envisages an esports sector shaped by the games, teams and leagues which can effectively activate and monetise their fanbase.

“Fans will in effect have a direct say in how their favourite teams are managed — from what player to put forward for a particular game, to what skins to ‘wear’ during a tournament — all realized through immutable, blockchain technology and utility tokens called chiliZ.”

According to chiliZ, the platform complements the entire esports ecosystem by giving professional and grass-roots teams access to essential support and funding and is likened to a Kickstarter but for the esports industry.

“Certainly, our location has helped to secure funding because we are based in a country that supports blockchain-driven investment options such as Token Sales, providing a safe and legitimate framework in which to operate,” Dreyfus concluded.

Silvio Schembri, Malta’s Parliamentary Secretary for Financial Services, Digital Economy & Innovation said: “We are proud to be home to this exciting esports blockchain venture from chiliZ. Malta’s support of innovative, blockchain-based projects has helped bring this project to life.”